Citigroup Inc has lowered First Gulf Bank to "hold" from "buy" citing deteriorating asset quality and exposure to the real-estate sector, Bloomberg has reported. "We see few positive catalysts for FGB shares in the near term," London-based analyst Simon Nellis wrote in a report. "Business activity remains sluggish, continued uncertainty over the impact of the Dubai World restructuring, and the bank's heavy exposure to property are all expected to continue to weigh on the shares."